daily eco review Oct 17 2007

--housing starts dropped to the lowest in 14 years, 1.191 mil. It will boost the chance of lowering an interest rate cut. --crude oil price approached 90, historic high, on the vote by Turish lawmakers to use military force against Kurdish rebels in northern Iraq --SP downgraded $23.35 billion of securities backed by pools of home loans that are extended to borroers in the first six months of 2007. Housing market has yet to bottom out.